GST on Services of Business Facilitator (BF) or a Business Correspondent (BC) to Banking Company.

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....05T of 2019. To, ……………………. …………………….. Subject: GST on Services of Business Facilitator (BF) or a Business Correspondent (BC) to Banking Company. Sir / Gentlemen/ Madam, 1. Representations have been received in the Board seeking clarification on following two issues: (i) What i....

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....iodically. The agreement of banks with the BC specifically prohibits them from directly charging any fee to the customers for services rendered by them on behalf of the bank. On the other hand banks (and not BCS) are permitted to collect reasonable service charges from the customers for such service in a transparent manner. The arrangements of banks with the Business Correspondents specify the req....

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....al areas: It has also been requested that the scope of exemption to services provided in relation to "accounts in its rural area branch" vide entry at Sr. No. 39 of Notification No. 12/2017- State Tax (Rate) dated 29th June 2017 be clarified. This clarification has been requested as the exemption from tax on services provided by BF/ BC is dependent on the meaning of the expression "....